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Cable Update (GBPUSD)

  • #365,061
  • Feb 20, 2014 11:47am Feb 20, 2014 11:47am
Quoting Neeraj_Raj
any trade idea pros , I put a buy stop and sell stop at both sides of the current value with a 20 pip profit and 10 pip loss orders. Is that a good idea Lol
Hi Raj
1.Never ask a forum opinion of trade.You will never be happy with the answers.
2.You should not trade news at all only after the news.Your method is total waste.You can be stopped out both sides and end up paying spread on both sides so loser on both direction.
3.Without offending you please visit babypips.com and graduate from school.
In trading, you have to be defensive and aggressive at the same time
  • #365,062
  • Feb 20, 2014 11:50am Feb 20, 2014 11:50am
Quoting Rtm
{quote} It'll get there
WE are smoothly sailing to 1.63
little rough winds here and there but the boat is pointing south.
In trading, you have to be defensive and aggressive at the same time
  • #365,063
  • Feb 20, 2014 11:58am Feb 20, 2014 11:58am
Such a funny trading week again. Took a small long in usd/jpy and closed it in profit before the US data. They came out bad and the pair continued upwards lol.
Fix up, trade sharp ...
  • #365,064
  • Feb 20, 2014 12:14pm Feb 20, 2014 12:14pm
Quoting Davit
{quote} WE are smoothly sailing to 1.63 little rough winds here and there but the boat is pointing south.
yeap so windy so bumpy, like u said it consumed little by little it took 10 days to go up from 1.63 to 1.68 well I still have plenty room for patience..n im ready whenever the day comes

btw many thanks I received ur ebook will start to read it this friday!!
thnks again!
A handful of patience is worth a bushel of brains
  • #365,065
  • Feb 20, 2014 12:18pm Feb 20, 2014 12:18pm
Quoting Davit
{quote} WE are smoothly sailing to 1.63 little rough winds here and there but the boat is pointing south.
rRrrr matey!!! Black pearl is out of sights
All posts are my personal opinion
  • #365,066
  • Feb 20, 2014 12:25pm Feb 20, 2014 12:25pm
Quoting Kimchi
{quote} yeap so windy so bumpy, like u said it consumed little by little it took 10 days to go up from 1.63 to 1.68 well I still have plenty room for patience..n im ready whenever the day comes btw many thanks I received ur ebook will start to read it this friday!! thnks again!
Hi Kimachi
You are welcome.Good observation about time. To make me relax about my trades I actually give myself a month.Since I measure my gains on monthly bases then its only fitting that I should wait a month more or less for trades to reach target.
I am up about 8% so far exceeded my 6% so my monthly goal has been reached.If my shorts take 30days from today then next month's gain will be spectacular 20%+
Once you frame time in this way then daily fluctuations don't bother you.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #365,067
  • Feb 20, 2014 12:30pm Feb 20, 2014 12:30pm
It has been a ride.. It's good to be on course again.
There are those who know, and there are those who don't know.
  • #365,068
  • Feb 20, 2014 12:33pm Feb 20, 2014 12:33pm
Quoting Rtm
{quote} rRrrr matey!!! Black pearl is out of sights

If one deduces logically.Overall up move was based upon positive stellar expectation of UK numbers plus Carney's forward guidance and possible IR raise in near term.
Fact1. UK numbers mostly were negative
Fact2. IR raise is 1.5-2yr away and that depends how economy will perform in the future


Observation on price.Price travels least resistance.Between Bull and Bear right now Bear is least resistance
In trading, you have to be defensive and aggressive at the same time
  • #365,069
  • Feb 20, 2014 12:47pm Feb 20, 2014 12:47pm
Quoting DailyChart
Still blah2 but do not know how to trade after all {image}

If you notice, he will more blah blah blah during bearish, probably feel worried and no time to blah blah blah on bullish.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #365,070
  • Feb 20, 2014 12:52pm Feb 20, 2014 12:52pm
Quoting Davit
{quote} Hi Kimachi You are welcome.Good observation about time. To make me relax about my trades I actually give myself a month.Since I measure my gains on monthly bases then its only fitting that I should wait a month more or less for trades to reach target. I am up about 8% so far exceeded my 6% so my monthly goal has been reached.If my shorts take 30days from today then next month's gain will be spectacular 20%+ Once you frame time in this way then daily fluctuations don't bother you. Regards

Good point n determination! I also keep telling myself to see more bigger picture about time management since Im rarely trade as swing trader.
I used to be intraday but not this time . Now its different with my usual trading style.. since im dealing w multi years high, well ..again of course everyone has different views n style seeing this pair . thats just my own view n style Wish you more green pip in future!
A handful of patience is worth a bushel of brains
  • #365,071
  • Feb 20, 2014 12:55pm Feb 20, 2014 12:55pm
Quoting Davit
{quote} Hi Raj 1.Never ask a forum opinion of trade.You will never be happy with the answers. 2.You should not trade news at all only after the news.Your method is total waste.You can be stopped out both sides and end up paying spread on both sides so loser on both direction. 3.Without offending you please visit babypips.com and graduate from school.
Time to get my education right. Forex seems to be so exciting. My only knowledge source had been investopedia and a chart of the economic events that I made. Like a note of the pip fluctuations corresponding to each event and the difference between the forecast and the actual data.

Couldn't find good read on the net, it would be a lot of help if you could recommend me some. And I really appreciate you taking time and replying to newbies. This forum rocks.

Thank you mate.
Everything you want lies on the other side of fear.
  • #365,072
  • Feb 20, 2014 1:07pm Feb 20, 2014 1:07pm
Quoting Neeraj_Raj
{quote} Time to get my education right. Forex seems to be so exciting. My only knowledge source had been investopedia and a chart of the economic events that I made. Like a note of the pip fluctuations corresponding to each event and the difference between the forecast and the actual data. Couldn't find good read on the net, it would be a lot of help if you could recommend me some. And I really appreciate you taking time and replying to newbies. This forum rocks. Thank you mate.

Here you go. It's a good place for learning the basics. GL

http://www.babypips.com
Don't be smart. Be rich.
  • #365,073
  • Feb 20, 2014 1:10pm Feb 20, 2014 1:10pm
Quoting Neeraj_Raj
{quote} Time to get my education right. Forex seems to be so exciting. My only knowledge source had been investopedia and a chart of the economic events that I made. Like a note of the pip fluctuations corresponding to each event and the difference between the forecast and the actual data. Couldn't find good read on the net, it would be a lot of help if you could recommend me some. And I really appreciate you taking time and replying to newbies. This forum rocks. Thank you mate.
Hi Raj
I once read that you basically end up trading yourself and not the market.Who you are reflects how you trade.Are you impulsive,inpatient? =Scalper
Patient,thoughtful,looking for greater gains?= Swing trader.
Your personality should shape your method.Demo for at least 6months.Find what works for you and apply the knowledge you gained.There are no short cuts.You will get bloodied faced in the market but that's part of it.
Demo but keep it real.Don't overleverage don't start with 100k account.Keep the account close to real account number.After six months review what you learned and what you need to improve.
When you are trying to learn piano generally you start with "twinkle Twinkle little star" not with Beethoven piano concerto.Your perception of everything increases incrementally as your knowledge increases.
Regards
In trading, you have to be defensive and aggressive at the same time
  • #365,074
  • Feb 20, 2014 1:10pm Feb 20, 2014 1:10pm
Quoting Neeraj_Raj
{quote} Time to get my education right. Forex seems to be so exciting. My only knowledge source had been investopedia and a chart of the economic events that I made. Like a note of the pip fluctuations corresponding to each event and the difference between the forecast and the actual data. Couldn't find good read on the net, it would be a lot of help if you could recommend me some. And I really appreciate you taking time and replying to newbies. This forum rocks. Thank you mate.
yupe this forum rocks I agree. We can always learn something new from this forum, watching many kind exciting people with different views n characters (well you can not find that on books lol) Lot of practice, practice, and practice my friend. It will boost you more confidence for trading.
Little advice, Never Trust blindly just by following the others. remember it's your own money
A handful of patience is worth a bushel of brains
  • #365,075
  • Feb 20, 2014 1:29pm Feb 20, 2014 1:29pm
next number ---


oppss you peek
  • #365,076
  • Feb 20, 2014 1:35pm Feb 20, 2014 1:35pm
Quoting Neeraj_Raj
{quote} Time to get my education right. Forex seems to be so exciting. My only knowledge source had been investopedia and a chart of the economic events that I made. Like a note of the pip fluctuations corresponding to each event and the difference between the forecast and the actual data. Couldn't find good read on the net, it would be a lot of help if you could recommend me some. And I really appreciate you taking time and replying to newbies. This forum rocks. Thank you mate.
Raj,

I don't like to promote anyone online here so I will PM you. I've been around since 2005 now and have seen a lot of crap in the education sector for Forex. You can waste your time in years following rubbish in books and else where that in the end just does not work or doesn't work for you. The link I will send you has a free members area which has a lot of great training videos that cover a range topics from market structure, order flow, psychology and much more. this will give you a lot more insights into the market than babypips. The guy who set it up has been helping traders since 2006 is by far one of the best in the business.

Good luck to you.
  • #365,077
  • Edited 2:40pm Feb 20, 2014 2:24pm | Edited 2:40pm
At the end of the day:

''It's not whether you are right or wrong that matters, but how much you make when you are right and how much you lose when you are wrong.''

Respect
The good thing with the future is that it is progressively approaching...
  • #365,078
  • Feb 20, 2014 2:28pm Feb 20, 2014 2:28pm
Quoting spinozagr
At the end of the day: It's not whether you are right or wrong that matters, but how much you make when you are right and how much you lose when you are wrong. Respect
Truly wisdom, by Warren Buffet.
I am not the SMARTEST person in the world, I am the PERSISTENT one.
  • #365,079
  • Feb 20, 2014 2:38pm Feb 20, 2014 2:38pm
Quoting Davit
{quote} I have ton of books but because of FF rules I can't upload them. I can list the books which I think is valuable. 1.REMINISCENCES OF A STOCK OPERATOR 2.Harmonic Trader by Scott Carney 3.Trading in the Zone 4.Super Trader Van K. Tharp 5.All Jack Schwager books That's enough for now.
I can't miss the opportunity... and one from one of the nutcases that frequents this thread.

Written by a member of Forex Factory, for members of Forex Factory, and also beyond, the blurb for the book goes like this:

For the 95 percent of currency traders that fail to make it rich, come and join a fellow sufferer for a week of ups and downs.

For Pip’s Sake! will leave you nodding in agreement at how the currency markets often confuse. Angry at how the political and economic industries leave you last in the queue. Laughing at how the author haplessly tries to become part of the 5 percent club.

Yes, a not without some semblance of shame approach for an audience that will hopefully appreciate the work, and announce its arrival to their family, friends, work colleagues, social media contacts, and so on, and so on, and so on. (I’m not that familiar with marketing, and hope that the FF community could help out a little on this front. This would include some kind reviews on Amazon )

Readable with Kindles, For Pip’s Sake! can also be read on iPads, PCs, Macs, Blackberries, iPhones, Android devices, and goodness knows what else, by using the following application (link).

The book is available at your local Amazon account… with a free sample offered to those averse to personal expenses.

Yours sincerely,

Damon Cockcroft

Author of For Pip’s Sake!
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #365,080
  • Feb 20, 2014 2:39pm Feb 20, 2014 2:39pm
Quoting kimisiow83
{quote} Truly wisdom, by Warren Buffet.
George Soros, mate...
The good thing with the future is that it is progressively approaching...
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